Indigrid acquires transmission asset for Rs 1,080 cr
The board of the investment manager of IndiGrid has approved the acquisition of Gurgaon Palwal Transmission (GPTL) from Sterlite Power at a value of up to Rs 1,080 crore ($140 million).This acquisition would increase the assets under management (AUM) of India’s first InvIT in the power sector by 10% to $1.75 billion. IndiGrid’s portfolio will increase to ten power transmission projects with a total network of 25 power transmission lines and seven substations that span more than 6,080 circuit km & 10,735 MVA across 15 Indian states post this acquisition.
GPTL is part of Inter State Transmission Scheme (ISTS) network and consists of three gas insulated substations (GIS) with a total transformation capacity of 3,000 MVA and 270 circuit km of 400 KV transmission lines spread across Uttar Pradesh, Haryana and Rajasthan.
